Price for Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR - 2023
Contents:
- Price for Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR (CIF) - 2022
- Price for Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR (FOB) - 2022
- Imports of Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR
- Exports of Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR
Price for Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR (CIF) - 2022
The average import price for non-furniture refrigerating or freezing equipment stood at $250 per unit in 2022, growing by 3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 11% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($240 per unit) and Italy ($240 per unit), while the price for Thailand ($240 per unit) and the UK ($240 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR (FOB) - 2022
The average export price for non-furniture refrigerating or freezing equipment stood at $254 per unit in 2022, shrinking by -5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 16%. Over the period under review, the average export prices attained the peak figure at $268 per unit in 2021, and then fell slightly in the following year.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($244 per unit) and Italy ($244 per unit), while the average price for exports to Macao SAR ($244 per unit) and China ($244 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR
In 2022, after three years of growth, there was significant decline in supplies from abroad of non-furniture refrigerating or freezing equipment, when their volume decreased by -5% to 130K units. The total import volume increased at an average annual rate of +3.6% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 8.7% against the previous year. As a result, imports reached the peak of 136K units, and then declined in the following year.
In value terms, non-furniture refrigerating or freezing equipment imports dropped modestly to $32M in 2022. The total import value increased at an average annual rate of +9.0% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. As a result, imports reached the peak of $33M, and then fell in the following year.
| Import of Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 12.5 | 9.7 | 10.8 | 11.7 | -2.2% |
| Japan | 1.5 | 2.0 | 6.9 | 5.2 | 51.3% |
| United States | 1.1 | 6.5 | 2.9 | 3.9 | 52.5% |
| Italy | 2.0 | 3.1 | 3.5 | 2.0 | 0.0% |
| United Kingdom | 1.0 | 0.3 | 0.7 | 2.0 | 26.0% |
| Germany | 0.8 | 1.0 | 1.6 | 1.8 | 31.0% |
| Thailand | 0.4 | 0.4 | 0.9 | 1.3 | 48.1% |
| Taiwan (Chinese) | 0.7 | 1.3 | 1.1 | 1.1 | 16.3% |
| Singapore | 0.8 | 0.3 | 1.1 | 0.5 | -14.5% |
| Others | 4.2 | 3.3 | 3.4 | 2.9 | -11.6% |
| Total | 25.0 | 27.8 | 32.9 | 32.3 | 8.9% |
Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to Hong Kong SAR in 2022:
- China (48.8K units)
- Japan (21.6K units)
- United States (16.2K units)
- Italy (8.5K units)
- United Kingdom (8.4K units)
- Germany (7.4K units)
- Thailand (5.5K units)
- Taiwan (Chinese) (4.4K units)
- Singapore (2.0K units)
Exports of Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR
In 2022, shipments abroad of non-furniture refrigerating or freezing equipment decreased by -1.1% to 46K units, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a pronounced setback. The pace of growth appeared the most rapid in 2020 with an increase of 2% against the previous year. As a result, the exports attained the peak of 53K units. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, non-furniture refrigerating or freezing equipment exports shrank to $12M in 2022. In general, exports recorded a noticeable decrease. The pace of growth was the most pronounced in 2020 with an increase of 4.4% against the previous year. As a result, the exports attained the peak of $13M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Non-Furniture Refrigerating or Freezing Equipment in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.8 | 5.8 | 3.7 | 4.9 | -5.5% |
| United States | 2.4 | 3.4 | 4.6 | 3.2 | 10.1% |
| Singapore | 0.3 | 0.2 | 0.9 | 0.7 | 32.6% |
| Italy | N/A | N/A | N/A | 0.5 | 0% |
| Iran | N/A | N/A | N/A | 0.4 | 0% |
| Japan | 0.9 | 0.3 | 0.4 | 0.3 | -30.7% |
| Taiwan (Chinese) | 0.4 | 0.4 | 0.5 | 0.2 | -20.6% |
| Germany | 0.4 | 0.3 | 0.2 | 0.2 | -20.6% |
| Macao SAR | 0.6 | 0.6 | 0.6 | 0.2 | -30.7% |
| Netherlands | 0.4 | 0.5 | N/A | 0.1 | -37.0% |
| Others | 1.4 | 1.7 | 1.5 | 1.1 | -7.7% |
| Total | 12.6 | 13.1 | 12.4 | 11.7 | -2.4% |
Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from Hong Kong SAR in 2022:
- China (20.0K units)
- United States (13.0K units)
- Singapore (2.8K units)
- Italy (2.0K units)
- Iran (1.5K units)
- Japan (1.1K units)
- Taiwan (Chinese) (1.0K units)
- Macao SAR (0.9K units)
- Germany (0.6K units)
- Netherlands (0.2K units)
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